(1). “Level Of Effort”, or in other words, how much of a pain in the processors it’s going to be to do whatever the business wants you to do to the system.
“Okay, so after further analysis, our LOE has changed a bit. We now think it’s going to take 378.4 man-days to complete this phase of the project. So, based on that, we’re going to need to allocate 25.6 man-boys to this effort.”
(1). A small, unprofitable piece of business your sales guy convinces you to take, claiming “there’s a lot of money behind this one.”
“Yeah, I know the fee on this one doesn’t even cover our cost, but this is a call option opportunity. This guy tells us his company’s going public soon – no, he didn’t say when – and we’ll already be in there when it does!”